IRON ORE DEVELOPMENT: Permits received for Phase One of Schefferville project

LABRADOR - Labrador Iron Mines Holdings (LIM) of Toronto has received certificates of approval for the construction of its Schefferville iron ore project from the government of Newfoundland and Labrador.

The approvals allow the construction of open pit mines at the James North, James South, Redmond 2B and Redmond 5 deposits. The permits also cover the beneficiation plant, ore, waste rock and overburden stockpiles, settling ponds, access roads, accommodation camp and other associated facilities. The approvals further include authorization for the installation and operation of power generators at the James deposit, the Silver Yard beneficiation area and the accommodation camp.

LIM has been advised that its development plan has also been approved by the province. The company is awaiting two more permits, one for mine operation and the other to operate a 4.5 km railway spur at the mine site.

Full scale commercial production is expected in April 2011. Two million tonnes of iron ore are to be produced that year. Please see www.LabradorIronMines.ca for more information.